The Development Bank of Nigeria (DBN) has announced that it has disbursed a cumulative ₦1.1 trillion to Micro, Small, and Medium Enterprises (MSMEs) nationwide, thereby strengthening their capacity to sustain jobs, expand businesses, and drive national growth.
Speaking during the bank’s sixth annual lecture in Abuja on Thursday, Managing Director Dr. Tony Okpanachi explained that the funds were channelled through 79 Participating Financial Institutions (PFIs) to over 700,000 MSMEs by December 2024.
“At DBN, we are proud to be playing our part. This achievement is not just about figures—it represents jobs sustained, dreams realised, and enterprises positioned for growth,” Okpanachi said.
MSME Challenges and New Opportunities
Okpanachi noted that small businesses have struggled in recent years due to policy shifts and limited access to finance. However, he described the present moment as a “new dawn and rekindled hope,” following the Federal Government’s inauguration of the National Council on MSMEs.
The Council, according to him, will harmonize policies, foster public-private partnerships, and promote inter-agency collaboration to ease the challenges faced by small business owners.
“We at DBN align strongly with this agenda and are doing a lot to ensure that MSMEs continue to prosper and flourish,” he added.
Theme of the 2025 Annual Lecture
This year’s lecture, themed “Positioning Nigerian MSMEs for Growth in a Dynamic Policy Environment”, provided a platform for policymakers, entrepreneurs, financiers, and thought leaders to exchange strategies for unlocking the potential of Nigeria’s 39 million MSMEs.
Okpanachi emphasised that Nigerian MSMEs are resilient and creative but require the right tools, access to finance, knowledge, and enabling policies to scale up. “The destiny of Nigeria’s economy is intertwined with the success of its small businesses. When they thrive, we all thrive,” he said.
FG’s Support for Small Businesses
In a goodwill message, Vice President Kashim Shettima, represented by his Special Adviser on Economic Matters, Dr. Tope Fasua, reaffirmed the administration’s commitment to small businesses.
He noted that reforms such as fuel subsidy removal and the unification of the foreign exchange market have created transparency, encouraged investment, and restored confidence in the economy.
“The administration inaugurated the National Council on MSMEs to harmonise policies and foster partnerships that expand opportunities for small businesses. Together, government and the private sector must build a Nigeria where small businesses flourish, industries expand, and prosperity is widely shared,” Shettima stated.
